Location: Colorado County, TX | Metro: Colorado County, TX
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The ZIP code 78935 has a population of 734 individuals, but the data indicates that 0.0% of these residents are renters. This suggests that the area is predominantly composed of homeowners rather than renters, which implies that there is likely a scarcity of Section 8 vouchers in circulation. The median household income for this ZIP code is not available, making it difficult to draw direct comparisons between income levels and market rents.
Despite the lack of specific income data, we can infer that since the majority of residents own their homes, the rental market may be less active and competitive compared to areas with higher percentages of renters. The Fair Market Rent (FMR) for the metro area is set at $1,150 per month for fiscal year 2026. Without the median income figure, we cannot accurately calculate what percentage of local income typical rent consumes. However, the absence of renters and the unavailability of income data suggest that landlords in this ZIP code might not find a robust tenant pool seeking Section 8 assistance.
The expected tenant profile in this area would lean towards those who do not require housing vouchers, given the low demand for rentals and the high likelihood of residents preferring home ownership. Landlords should prepare for a market where tenants may have stable financial situations, potentially due to the strong preference for homeownership, but also be aware that attracting tenants might require additional effort due to the limited number of people looking to rent in this ZIP code.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.